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Healthcare Business Intelligence (BI) Platform Market to Reach US$3.91 bn by 2023

North America was the largest revenue contributor in 2014 and accounted for 47.8% of the global healthcare BI platform market revenue. Increased healthcare expenditure and need to reduce cost is the key factor fuelling the growth of the healthcare BI platform market. The market has witnessed rising demand for cloud BI platforms owing to its cost-effectiveness and efficient delivery methods.                                                                    

North America is expected to be the fastest growing and the largest revenue contributing healthcare BI platform market over the forecast period. Healthcare providers improve patient outcomes, cut expenses, and analyze treatment effectiveness with the help of healthcare BI platforms, efficiently utilizing operational, patient, and other data. Cost reduction factor has a high impact on adoption of BI platforms in the healthcare industry which would help boost the growth rate of the healthcare BI platform market over the forecast period.
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Strategic collaborations and focus on latest trends in the market such as cloud solutions and self-service BI are some of the key strategies adopted by leading players in the healthcare BI platform market. The financial analytics segment accounted for the largest portion of the healthcare BI platform market revenue share (35.0%) in 2014. SMEs are finding ways to successfully deploy cloud BI systems which will boost their competitiveness.
Cloud BI is expected to grow at the highest CAGR over the forecast period from 2015 to 2023. Self-service BI is expected to be the fastest growing model type in the healthcare BI platform market over the forecast period from 2015 to 2023. Increasing demand for decentralized data, speed, and diversity is boosting the demand for this segment.
This 86 page report gives readers a comprehensive overview of the Healthcare BI Platform Market. Browse through Table .
The report analyses the global healthcare BI platform market and provides estimates in terms of revenue (US$ Mn) from 2013 to 2023. Market estimates are provided for different segments, categorized on the basis of function, deployment type, model type, and geographies. The market has been segmented as follows:
Segmentation of Global Healthcare BI Platform Market
Global Healthcare BI Platform Market, by Function

Clinical Analytics

Financial Analytics

Operational Analytics

Others (Regulatory Reporting, etc.)

Global Healthcare BI Platform Market, By Deployment Type

On-premise

Cloud

Global Healthcare BI Platform Market, By Model Type

Self-service BI

Corporate BI

Global Healthcare BI Platform Market, By Geography

North America

Europe

Asia Pacific

Middle East and Africa (MEA)

Latin America

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Mobile BI, cloud BI, self-service BI, and social BI are the trends observed in the healthcare BI platform market. Currently, financial analytics function is acting as a key driver for the growth of the healthcare BI platform market.
The healthcare BI platform market is expected to see strong growth during the forecast period as traditional systems are expected to be replaced by new technologically advanced systems in response to government regulations such as Affordable Care Act (2010). The increasing healthcare expenditure and hence the need to use technology for cost reduction, while keeping the quality care intact is boosting the healthcare BI platform market. Currently, North America dominates the global healthcare BI platform market in terms of revenue and it is expected to continue witnessing the highest growth over the forecast period.
Major players in the healthcare BI platform market include SAP SE, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAS Institute, Inc., OpenText Corporation, and Information Builders. Focus on emerging trends and strategic collaborations are some of the strategies adopted by leading players in the healthcare BI platform market.
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